Middle East Economic Survey

VOL. LIV

No 50

12-Dec-2011

SAUDI ARABIA

Saudi Banks Show Big Appetite For Marafiq $1.2Bn Loan

The strong response to the Power and Water Utility Company for Jubail and Yanbu' (Marafiq) request for a SR4.5bn ($1.2bn) loan illustrates the growing liquidity in Saudi Arabias banking sector. While the details are yet to be finalized, MEES understands that the deal was oversubscribed and that the pricing for the corporate loan, which has a tenor of 15 years, is a very...